World Development Report 2010: Development and Climate Change

The World Development 2010 climate Change Report published in September outlines how a 2 degree centigrade rise in global temperature would likely cost Africa 4% of GDP whilst the impact on India would be %5 of GDP. Developing countries are already disproportionately impacted by climate change with 80% of the worlds population located in the developing world.

As the report states:

"Solving the climate problem requires a transformation of the world’s energy systems in the coming decades.   Research and Development investments on the order of US$100 - $700 billion annually will be needed—a major increase from the modest $13 billion a year of public funds and $40 billion to $60 billion a year of private funds currently invested. 

Developing countries, particularly the poorest and most exposed, will need assistance in adapting to the changing climate. Climate finance must be greatly expanded, since current funding levels fall far short of foreseeable needs. Climate Investment Funds (CIFs), managed by the World Bank and implemented jointly with regional developing banks, offer one opportunity for leveraging support from advanced countries, since these funds can buy-down the costs of low-carbon technologies in developing countries."

The report is published at an important juncture as world leaders begin positioning themselves in the run-up to negotiations at Copenhagen.

The full report can be downloaded here.